FINANCIAL SERVICES


So if you’re going to make money, you need as much exposure and visibility to those customers as possible. This can be achieved by being, for example, in high traffic areas like the high street. If you are operating, say, a fast-food restaurant, it’s very important that you situate yourself somewhere like this, but it might not be so vital if you’re setting up a franchise that does not depend on this type of traffic. Consider your opportunity and whether this will determine your success, as you may be able to save money each month.


Are there many competitors around? While you may have identified that there is an opportunity based on how densely populated the area is, you may be up against stiff competition. If you’ve identified the area as a suitable location then direct competitors may have too, and so it’s worth checking this out and assessing the potential impact on your sales. If you’re paying extra for the footfall in your area, but there are other businesses offering a similar product, then this is something you and the lender will need to consider. Don’t fret; work with your franchisor, who will be experienced in these situations. They’ll be able to indicate whether this is a worthwhile business opportunity, as an invested business


partner it’s important for them to help you assess the right location.


Will the location increase in value? Most of the time, it is worth looking into whether a location shows promise to grow in value in the future. There may be plans to invest in the community, which could make the area a more attractive proposition to future investors, raising the value of your plot. Lenders could gain confidence from this research and insight into the location, which would help your finance application to get your franchise up and running.


Research further The more research you can put into your proposed franchise location the better, if you have the benefit of local knowledge, that’s great, but if not, careful research with attention to detail will help you setup your franchise business for success. Best of luck in your search! 


NOVUNA BUSINESS FINANCE 01844 355 575 novunabusinessfi nance.co.u franchisingnovunabusinessfi nance.co.u


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• Asset Finance • Invoice Finance


• Business Loans • Franchise Finance


Find out more: NovunaBusinessFinance.co.uk


Tomorrow. Together Novuna Business Finance is a trading style of Mitsubishi HC Capital UK PLC. Registered Office: Novuna House, Thorpe Road, Staines-upon-Thames, Surrey, TW18 3HP. Registered in Cardiff under company no. 01630491.


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